HOA Loans/LOCs

Started by BillS16 • 4 replies • 1444 views

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BillS16 (Illinois)
Posts: 2

Posted:

All -

I am the president of a small (3-unit) association in Chicago, IL and we are looking at potentially having to have our roof re-done. I am working through insurance right now, but it's not a guarantee that they'll cover for a variety of reasons. Does anyone know of any banks or resources I can use in Chicago to pursue financing through the association? Thanks.

Bill

SusanW1 (Michigan)
Posts: 5,202

Posted:

Good luck with getting a loan from a bank for a re-roofing job that should have been covered in a Reserve Fund Plan.

BillS16 (Illinois)
Posts: 2

Posted:

Thanks for the feedback, doesn't answer my question.

KirkW1 (Texas)
Posts: 1,665

Posted:

There are one or two banks that work with HOAs that advertise on this site. Here is a link for one:
http://www.hoatalk.com/tabid/76/Default.aspx?ID=NCB

JosephW (Michigan)
Posts: 882

Posted:

Go to the Service Directory at the local chapter of CAI in IL

http://www.cai-illinois.org/member/MemberSearch.asp?assn_id=264&link_id=49334

Joe

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